Variable

Coefficient

t-Statistic

Prob.

DLOG (GSMEP (−1))

0.77131

2.668993

0.0204

DLOG (GSMEP (−2))

0.917548

3.584089

0.0038

DLOG (GSMEP (−3))

0.463027

2.815506

0.0156

DLOG (INTR)

−0.13763

−0.07587

0.9408

DLOG (INTR (−1))

10.68477

2.957352

0.012

DLOG (INTR (−2))

4.843743

2.212257

0.0471

DLOG (INTR (−3))

2.023783

1.637895

0.1274

DLOG (EXR)

1.204821

1.454023

0.1716

DLOG (EXR (−1))

0.023116

0.022561

0.9824

DLOG (EXR (−2))

−3.01243

−3.2013

0.0076

DLOG (EXR (−3))

−2.58521

−2.4162

0.0325

DLOG (INF (−1))

−4.3549

−3.44294

0.0027

ECT (−1)*

−0.90843

−4.7953

0.0004

R-squared

0.819912

Adjusted R-squared

0.696101

Durbin-Watson stat

2.090931